Poroshenko signs law on ratification of free trade agreement with Canada

President of Ukraine Petro Poroshenko has signed the law on ratification of the free trade agreement between Ukraine and Canada.

According to the press service of the Ukrainian president, this agreement was signed during the visit to Ukraine of Canadian Prime Minister Justin Trudeau on July 11, 2016.

The agreement will enter into force on the first day of the second month after the parties’ receiving the notice on completion of the procedures required for its entry into force.

“From the entry into force of the agreement, Canada will open 98% of its market of goods that are subject of bilateral trade for Ukrainian exporters. Considering the different level of economic and social development of Ukraine and Canada, the parties will apply the principle of asymmetric tariff obligations, which will allow our state to adapt trade with this country in terms of free trade,” the report reads.

The document contains a number of norms and obligations related to non-tariff measures that will help ensure that access to the markets will not be limited to unjustified barriers to trade.